Homeowner & condo association audits
An HOA audit independently verifies the funds your community trusts you to manage.
Give your board and homeowners an independent read on whether the association's funds are accurately reported, properly reserved, and correctly allocated.
1,331+
Verified client reviews
16+
Years auditing experience
AICPA
Peer-reviewed firm
50
States served nationwide
Why HOA Audits Matter
HOAs manage collective funds, often millions a year, that must be tracked and used in line with the governing documents and approved budgets. Unlike a business, an HOA operates in a high-transparency environment where financial decisions directly affect residents, and mismanagement, intentional or not, quickly leads to disputes, legal challenges, or special assessments.
Who an HOA audit is for
A good fit if you:
- Sit on an HOA or condo association board.
- Manage community associations as a property manager.
- Are required by your bylaws or state law to have an audit.
- Suspect reserve, dues, or vendor-billing issues.
- Want to reassure homeowners that funds are well managed.
Whether the community is small or spans hundreds of units, the engagement is scoped to the association's size and governing requirements.
Where it breaks down
Where HOA finances break down
Reserve Underfunding or Misuse
Reserves used for operating expenses, weakening long-term financial stability.
Inaccurate Expense Allocation
Utilities, maintenance, or management fees misallocated across accounts or property areas.
Delinquent Dues Tracking
Unpaid balances not followed up, understating receivables and cash flow.
Vendor Billing Discrepancies
Overbilling, duplicate invoices, or charges not authorized under contract.
Weak Approval Controls
Managers handling recordkeeping and payments without sufficient board oversight.
Talk to a CPA about your association
If your community's funds deserve an independent check, reach out.
We will tell you where the exposure sits and what an audit would involve. No obligation, and you speak directly with a professional.
What we review
What an HOA audit reviews
Financial Statements and Ledger
Accuracy of reported income and expenses.
Bank Reconciliations and Cash Controls
Cash handling and account reconciliation.
Reserve Funding Compliance
Reserve balances and funding against requirements.
Assessment Billing and Collections
Dues billed and collected correctly.
Vendor Invoices and Contract Compliance
Payments authorized and on contract terms.
Budget and Variance
Adherence to the board-approved budget.
Internal Controls and Board Oversight
Approval processes and segregation of duties.
How it works
How our HOA audit process works
- 01Step 1
Initial Consultation
We review community structure, governing documents, and audit objectives.
- 02Step 2
Financial and Document Review
We analyze financial statements, bank records, and board meeting minutes.
- 03Step 3
Testing and Reconciliation
We test transactions, reconcile accounts, and verify reserve funding.
- 04Step 4
Compliance Evaluation
We assess adherence to bylaws, accounting standards, and state HOA rules.
- 05Step 5
Findings and Recommendations
We document discrepancies, control weaknesses, and financial risks.
- 06Step 6
Final Report
A clear report suitable for board review and homeowner transparency.
Why a CPA firm
Why an HOA audit needs a CPA firm
Governance plus accounting
HOA work needs reserve planning and governance understanding, not just bookkeeping.
Independent of the manager
An audit verifies the property manager's records rather than restating them.
Peer-reviewed work
We are an AICPA peer-reviewed firm, so the review you receive has itself been reviewed.
Built for boards and homeowners
Documentation suitable for board review and homeowner transparency.
Why choose Dimov Audit
Why boards choose Dimov Audit
Reserves verified, dues confirmed, expense allocation checked against governing documents — with documentation built for board review and homeowner transparency.
500+
audit and attestation engagements
50
states served, nationwide coverage
AICPA
peer-reviewed firm
Boards
documentation built for board review
Scoping
What drives the cost of an HOA audit
HOA audit work is priced by the engagement, not a flat rate.
We size the work against your situation and give you a clear quote before you commit.
Contact
Connect with Dimov Audit
Our dedicated team is ready to assist you on your path to financial success.
211 E 43rd St Suite 628
New York, NY 10017
United States
HOA audit FAQs
Are your financials audit-ready?
Are Your Financials Audit-Ready?
At Dimov Audit, we pride ourselves in quick communication, accurate work, and seamless delivery.